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Introduction to Economics: Part 5
The entrepreneur is the major risk bearer. Business return on capital is long run profits or losses. Real rate of interest is determined by time preferences. Government contracts are cost plus. Medical costs are higher because supply is so restricted by government intervention.
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The entrepreneur is the major risk bearer. Business return on capital is long run profits or losses. Real rate of interest is determined by time preferences. Government contracts are cost plus. Medical costs are higher because supply is so restricted by government intervention.
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